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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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Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- White Energy Company Limited
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
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