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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
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