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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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Thursday, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
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Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
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