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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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Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
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