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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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
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