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