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