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