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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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Wednesday, 16 December 20
CHINA TO BOOST DOMESTIC SUPPLY - FITCH
China’s benchmark Qinhuangdao 5,500kcal/kg coal price rose above the government’s upper yellow interval of CNY600/tonne in early Octobe ...
Wednesday, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
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- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
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