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