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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
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