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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
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Tuesday, 17 January 23
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Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
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Sunday, 08 January 23
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Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
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