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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, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Indonesian Coal Mining Association
- MS Steel International - UAE
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
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- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
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- Samtan Co., Ltd - South Korea
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- Heidelberg Cement - Germany
- SMC Global Power, Philippines
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- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
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- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
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- Ministry of Finance - Indonesia
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- Borneo Indobara - Indonesia
- The University of Queensland
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- Minerals Council of Australia
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- Antam Resourcindo - Indonesia
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- Ministry of Transport, Egypt
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- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
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- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
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- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
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- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
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- Wood Mackenzie - Singapore
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- Eastern Coal Council - USA
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- Wilmar Investment Holdings
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
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- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
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- CIMB Investment Bank - Malaysia
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- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
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- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
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- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
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- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- ICICI Bank Limited - India
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- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Romanian Commodities Exchange
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- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
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