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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
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