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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- VISA Power Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
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