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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, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
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