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