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