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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
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