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