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