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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
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Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
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Wednesday, 02 November 22
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Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Australian Coal Association
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
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