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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
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