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