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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
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