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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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Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- ICICI Bank Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
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