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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, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
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Friday, 10 July 20
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Wednesday, 08 July 20
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Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
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- Africa Commodities Group - South Africa
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- Bukit Makmur.PT - Indonesia
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- London Commodity Brokers - England
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- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
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- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
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- Heidelberg Cement - Germany
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- Australian Coal Association
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
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- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
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- Interocean Group of Companies - India
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- Indian Oil Corporation Limited
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- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
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- Bangladesh Power Developement Board
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- AsiaOL BioFuels Corp., Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
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- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Rio Tinto Coal - Australia
- Bhatia International Limited - India
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- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
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- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
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- Grasim Industreis Ltd - India
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- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
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