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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, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
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