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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
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