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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- The University of Queensland
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
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