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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 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
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- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
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