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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
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