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