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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, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
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Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
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INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- Indonesian Coal Mining Association
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- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
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- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
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- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
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- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
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- Thiess Contractors Indonesia
- Parliament of New Zealand
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