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