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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, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
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Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
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Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
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Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- MS Steel International - UAE
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- Trasteel International SA, Italy
- Commonwealth Bank - Australia
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- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
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- VISA Power Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
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- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
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- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
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- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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- Siam City Cement - Thailand
- White Energy Company Limited
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- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- CNBM International Corporation - China
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- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
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- Indonesian Coal Mining Association
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- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
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- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
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- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
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- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
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- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The Treasury - Australian Government
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- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
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- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
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- The University of Queensland
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
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- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Planning Commission, India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
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