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