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