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