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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- White Energy Company Limited
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Planning Commission, India
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