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