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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Planning Commission, India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bhushan Steel Limited - India
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