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