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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- The University of Queensland
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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