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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Australian Coal Association
- Sical Logistics Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
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