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