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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
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
Wednesday, 13 January 21
COAL TO BE BIGGEST CONTRIBUTOR TO INDIA'S $5 TRILLION ECONOMY: AMIT SHAH - BUSINESS STANDARD
The Centre on Monday awarded the letter of allocation to successful bidders of coal mines under the commercial auction held during October-November ...
Monday, 11 January 21
MUTED COAL RECOVERY IN 2021 - BALTIC EXCHANGE
Coal demand is expected to rebound in 2021
Medium-term outlook is less favourable although demand declines are expected to be subtle ...
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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- Economic Council, Georgia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
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