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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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Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
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Friday, 13 November 20
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Friday, 13 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
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Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
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Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Thiess Contractors Indonesia
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- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
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- VISA Power Limited - India
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- Africa Commodities Group - South Africa
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- Sakthi Sugars Limited - India
- London Commodity Brokers - England
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- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
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- Attock Cement Pakistan Limited
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- Wilmar Investment Holdings
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- Australian Commodity Traders Exchange
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- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
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- Indogreen Group - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
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- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
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- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
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- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- The University of Queensland
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- Pipit Mutiara Jaya. PT, Indonesia
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- Minerals Council of Australia
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