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