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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, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Coastal Gujarat Power Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
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- Tamil Nadu electricity Board
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- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
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- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
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- MS Steel International - UAE
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- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
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- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
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- Singapore Mercantile Exchange
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- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
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- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
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- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
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- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
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- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
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- Ministry of Mines - Canada
- Thai Mozambique Logistica
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- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Deloitte Consulting - India
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- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
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- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
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- Borneo Indobara - Indonesia
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- Therma Luzon, Inc, Philippines
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- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
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- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- India Bulls Power Limited - India
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