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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
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