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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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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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- SN Aboitiz Power Inc, Philippines
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- Pendopo Energi Batubara - Indonesia
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- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
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- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
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- GMR Energy Limited - India
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- Global Coal Blending Company Limited - Australia
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- Indian Energy Exchange, India
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- Independent Power Producers Association of India
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- Thai Mozambique Logistica
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- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
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- Australian Commodity Traders Exchange
- Planning Commission, India
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- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
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- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Business Power Corporation, Philippines
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- India Bulls Power Limited - India
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- Mintek Dendrill Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Kumho Petrochemical, South Korea
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
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- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
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- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
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- Bangladesh Power Developement Board
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- Coal and Oil Company - UAE
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
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- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
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- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
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- White Energy Company Limited
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