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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, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
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Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
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Wednesday, 19 February 20
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Tuesday, 18 February 20
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Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
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- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
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- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
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- Ministry of Finance - Indonesia
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- CNBM International Corporation - China
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- Romanian Commodities Exchange
- Economic Council, Georgia
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- India Bulls Power Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Trasteel International SA, Italy
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- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
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- International Coal Ventures Pvt Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Planning Commission, India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
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- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
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