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