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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
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Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
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COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
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- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
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