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