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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 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
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We have seen China&r ...
Tuesday, 21 April 20
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KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Australian Coal Association
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
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