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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, 12 May 20
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Monday, 11 May 20
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China’s benchmark power coal price dropped slightly during the past week.
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Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
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- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
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- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
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- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Xindia Steels Limited - India
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- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
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- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
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- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
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