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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 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 ...
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- Indian Oil Corporation Limited
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
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