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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
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