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