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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
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