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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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- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- The University of Queensland
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
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