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