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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 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
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