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