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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, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
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Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
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Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
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Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
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- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
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- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
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- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
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- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
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- Minerals Council of Australia
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- Madhucon Powers Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Port Waratah Coal Services - Australia
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- Heidelberg Cement - Germany
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- Toyota Tsusho Corporation, Japan
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- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- ASAPP Information Group - India
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- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
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- Africa Commodities Group - South Africa
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- Power Finance Corporation Ltd., India
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- Timah Investasi Mineral - Indoneisa
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- Global Green Power PLC Corporation, Philippines
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- Indian Energy Exchange, India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
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- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
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- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
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- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
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- White Energy Company Limited
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
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- Electricity Generating Authority of Thailand
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- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
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- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
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