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