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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- The University of Queensland
- White Energy Company Limited
- Australian Coal Association
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
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