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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
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