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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, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
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Wednesday, 13 January 21
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Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
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Sunday, 10 January 21
KOREAN GENCOS INVITED BIDS FOR TOTAL 880,000 TONS OF COAL FOR MARCH 2021 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), on behalf of EWP, KOSPO, KOSEP and KOWEPO issued an international tender for total 880 ...
Friday, 08 January 21
INDIA COULD COMPETE AGAINST CHINA IN SOLAR MODULE PRODUCTION WITH THE RIGHT GOVERNMENT SUPPORT - IEEFA
The focus should be on helping manufacturers become globally competitive
Although one of the top 10 solar module producers in the world, India ...
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- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petron Corporation, Philippines
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
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- Coal and Oil Company - UAE
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- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
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- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Intertek Mineral Services - Indonesia
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- Heidelberg Cement - Germany
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- Renaissance Capital - South Africa
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- Energy Link Ltd, New Zealand
- The University of Queensland
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- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
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- Ministry of Finance - Indonesia
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- Planning Commission, India
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- Minerals Council of Australia
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- Petrochimia International Co. Ltd.- Taiwan
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- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
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- Eastern Coal Council - USA
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- IEA Clean Coal Centre - UK
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- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
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- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
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- ICICI Bank Limited - India
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- Electricity Authority, New Zealand
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- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
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- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
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- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
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- Central Electricity Authority - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Mjunction Services Limited - India
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- Bayan Resources Tbk. - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
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- MS Steel International - UAE
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
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