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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, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
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Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
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Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
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