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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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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
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The ...
Wednesday, 04 August 21
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Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
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