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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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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed r ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
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