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