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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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Thursday, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
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