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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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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
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- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
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- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
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- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
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- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
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