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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
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- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
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- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
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- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
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- Barasentosa Lestari - Indonesia
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- London Commodity Brokers - England
- Deloitte Consulting - India
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- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
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- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
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