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