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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, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Planning Commission, India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
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