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