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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
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Friday, 10 July 20
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Wednesday, 08 July 20
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Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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- PowerSource Philippines DevCo
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
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