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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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Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
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- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
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- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
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- Maharashtra Electricity Regulatory Commission - India
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- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
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- Bahari Cakrawala Sebuku - Indonesia
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- Australian Coal Association
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- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
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- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
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- Commonwealth Bank - Australia
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- Karbindo Abesyapradhi - Indoneisa
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- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
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- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
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- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
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- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Medco Energi Mining Internasional
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- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
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