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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 07 October 20
U.S. COAL PRODUCTION TO DECREASE BY 26 PERCENT IN 2020 COMPARED TO 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 525 million short tons (MMst), compared with 705 MMst in 2019, a 26% decrease.
COVID-19 a ...
Wednesday, 07 October 20
MARKET INSIGHT - INTERMODAL
The challenges brought forward in 2020 proved to be very different from what we could have ever imagined. Together with placing a significant strai ...
Tuesday, 06 October 20
KOSPO TO IMPORT 80,000 MT OF 3,800 NCV COAL FOR 2H NOV
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 MT Min.3800 kcal/kg NCV coal 2H November, 2020 l ...
Friday, 02 October 20
THE INDONESIA COAL PRICE REFERENCE RISE AFTER HISTORIC CRASH TO US$ 49.42
COALspot.com: The Indonesia Coal Price Reference for the month of October Rise to US$ 51.00 after historic crash to US$ 49.42 in September 2020.
...
Friday, 02 October 20
SRI LANKA MUST LEARN LESSONS FROM AROUND ASIA TO AVOID FURTHER ELECTRICITY CRISES - IEEFA
Overcommitment to fossil-fuelled power generation is leading to excess capacity and rising capacity payments, subsidies, and tariffs around the con ...
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- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- White Energy Company Limited
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- Sojitz Corporation - Japan
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- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
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- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- VISA Power Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
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- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
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- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
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- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
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- Indogreen Group - Indonesia
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- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
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- Lanco Infratech Ltd - India
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- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
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- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
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- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
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- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
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