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