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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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- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
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- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
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- Parliament of New Zealand
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- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
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- Karaikal Port Pvt Ltd - India
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- Malabar Cements Ltd - India
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- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
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- Agrawal Coal Company - India
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- Global Business Power Corporation, Philippines
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- Heidelberg Cement - Germany
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- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
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- Ambuja Cements Ltd - India
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- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
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- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
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- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
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- Standard Chartered Bank - UAE
- Economic Council, Georgia
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- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
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- Medco Energi Mining Internasional
- The University of Queensland
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- India Bulls Power Limited - India
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- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
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- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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