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