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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
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