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