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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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Wednesday, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
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Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
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- Parliament of New Zealand
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
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- SMC Global Power, Philippines
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- Petron Corporation, Philippines
- Indian Energy Exchange, India
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- New Zealand Coal & Carbon
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- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
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- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
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- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
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- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
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- Ministry of Finance - Indonesia
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- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
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- Medco Energi Mining Internasional
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- Australian Coal Association
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- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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- White Energy Company Limited
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- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
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- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
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- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
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- Standard Chartered Bank - UAE
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