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