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