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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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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Planning Commission, India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
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