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