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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
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
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Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
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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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- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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