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