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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
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Tuesday, 17 January 23
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Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
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Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
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- Edison Trading Spa - Italy
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- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
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- Renaissance Capital - South Africa
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- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Planning Commission, India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- ASAPP Information Group - India
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- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
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- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
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