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