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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
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