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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
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- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
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- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
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- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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