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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, 06 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
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- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
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