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