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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Intertek Mineral Services - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
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- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Medco Energi Mining Internasional
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- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
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- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
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- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
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