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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
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