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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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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
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