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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
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Tuesday, 17 January 23
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Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- PTC India Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
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