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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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- Parliament of New Zealand
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ambuja Cements Ltd - India
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