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