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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
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