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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, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
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- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
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- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
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