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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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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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