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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- GMR Energy Limited - India
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- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
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- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
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- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
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- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
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- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- SMC Global Power, Philippines
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- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Romanian Commodities Exchange
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
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- Posco Energy - South Korea
- India Bulls Power Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- The University of Queensland
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
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