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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, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
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