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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
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