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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, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
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- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- VISA Power Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
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