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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
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
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Monday, 09 November 20
INDONESIA MAY CUT BIODIESEL USE TARGET AS SUBSIDY FUND DEPLETES - FITCH
The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and ...
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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- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
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- Star Paper Mills Limited - India
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- Global Coal Blending Company Limited - Australia
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- The Treasury - Australian Government
- CNBM International Corporation - China
- Baramulti Group, Indonesia
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- Indonesian Coal Mining Association
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- Electricity Generating Authority of Thailand
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- IEA Clean Coal Centre - UK
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- Cement Manufacturers Association - India
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- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Parliament of New Zealand
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- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
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- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Economic Council, Georgia
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- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
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- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
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- Jindal Steel & Power Ltd - India
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- McConnell Dowell - Australia
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- Planning Commission, India
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