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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
...
Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
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- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Planning Commission, India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
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