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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
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- Aditya Birla Group - India
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- Energy Development Corp, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
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- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
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- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
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- Ministry of Finance - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
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- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
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- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Romanian Commodities Exchange
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