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