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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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Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Siam City Cement - Thailand
- The University of Queensland
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
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