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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
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Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
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Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
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Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
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Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
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