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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
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Friday, 13 November 20
SHIPPING OUTLOOK TURNS STABLE ON EBITDA GROWTH, IMPROVING SUPPLY-DEMAND BALANCE - MOODY’S
Outlook revised to stable from negative.
The global shipping industry is on course to perform better overall than we had previously ex ...
Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
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The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
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