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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, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
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- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
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