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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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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Minerals Council of Australia
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- Formosa Plastics Group - Taiwan
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
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- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
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- Grasim Industreis Ltd - India
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- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
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- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
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- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
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- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
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- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
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