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