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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
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