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