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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, 23 January 21
GOVT PLANNING TO OPEN UP COAL MARKETING TO STREAMLINE PROCESS - THE INDIAN EXPRESS
The government is considering opening up coal marketing, Coal Secretary Anil Kumar Jain said on Thursday. Currently, production by Coal India is al ...
Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
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Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
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Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
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- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
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- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Australian Coal Association
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
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