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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, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
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