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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, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- London Commodity Brokers - England
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
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