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