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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Aboitiz Power Corporation - Philippines
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- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sical Logistics Limited - India
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