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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, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
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