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