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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
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
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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- SN Aboitiz Power Inc, Philippines
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- Indian Oil Corporation Limited
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- Merrill Lynch Commodities Europe
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- Minerals Council of Australia
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- New Zealand Coal & Carbon
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- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
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- ICICI Bank Limited - India
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- Jorong Barutama Greston.PT - Indonesia
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- Indonesian Coal Mining Association
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- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
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- The Treasury - Australian Government
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- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Central Electricity Authority - India
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- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
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- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
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- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
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- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
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- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
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- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
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- Global Business Power Corporation, Philippines
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