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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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Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- The University of Queensland
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- White Energy Company Limited
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
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