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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
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