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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
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