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