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