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