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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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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
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Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
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The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
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APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
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