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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Planning Commission, India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Bhatia International Limited - India
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- Eastern Energy - Thailand
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- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
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- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
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- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
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- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
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- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
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- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
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- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
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