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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, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
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- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
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- Vedanta Resources Plc - India
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- Binh Thuan Hamico - Vietnam
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- Economic Council, Georgia
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- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
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- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
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- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
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- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
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- Wilmar Investment Holdings
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- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
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- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
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