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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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- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
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