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