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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
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Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
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Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
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Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
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Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- The University of Queensland
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
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