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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
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Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
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COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
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- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
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