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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
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Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
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The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- The University of Queensland
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
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