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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
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Saturday, 28 December 19
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Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Ministry of Mines - Canada
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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