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