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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
...
Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- The University of Queensland
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
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