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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, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
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