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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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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Global Business Power Corporation, Philippines
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- Siam City Cement PLC, Thailand
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- Bhoruka Overseas - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
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- Africa Commodities Group - South Africa
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- Chamber of Mines of South Africa
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- Ministry of Transport, Egypt
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- Power Finance Corporation Ltd., India
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- Wilmar Investment Holdings
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- Straits Asia Resources Limited - Singapore
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- Sree Jayajothi Cements Limited - India
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- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
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- Trasteel International SA, Italy
- Parliament of New Zealand
- White Energy Company Limited
- India Bulls Power Limited - India
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- Planning Commission, India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
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- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
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- Ministry of Mines - Canada
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- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
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- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
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- Australian Coal Association
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- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
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- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
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- London Commodity Brokers - England
- New Zealand Coal & Carbon
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- Videocon Industries ltd - India
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- Makarim & Taira - Indonesia
- Economic Council, Georgia
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- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
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- PTC India Limited - India
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- The State Trading Corporation of India Ltd
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- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
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- Attock Cement Pakistan Limited
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- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
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- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
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- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
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- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
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- Antam Resourcindo - Indonesia
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