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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, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
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- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
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- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
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- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
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