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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, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
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Thursday, 05 March 20
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Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
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- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
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