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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, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
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Friday, 13 November 20
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Friday, 13 November 20
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Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
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Monday, 09 November 20
SOUTH AFRICA: COAL MARKET CONDITIONS HAVE ' DETERIORATED MATERIALLY' - IEEFA
The Asian seaborne thermal coal pool is drying out
Resource Generation Ltd’s proposed but long delayed Boikarabelo coal mine i ...
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- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
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