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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
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Wednesday, 10 February 21
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Tuesday, 09 February 21
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PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
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