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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Indian Energy Exchange, India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
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