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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- White Energy Company Limited
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
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