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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- White Energy Company Limited
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
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