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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, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
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Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- VISA Power Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
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