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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
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Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
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Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
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