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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, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Carbofer General Trading SA - India
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- Tata Chemicals Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
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- Parry Sugars Refinery, India
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- Banpu Public Company Limited - Thailand
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- SMG Consultants - Indonesia
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- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Indian Energy Exchange, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Planning Commission, India
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- Ministry of Transport, Egypt
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- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
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- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
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- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
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- Romanian Commodities Exchange
- Australian Coal Association
- VISA Power Limited - India
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- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Sakthi Sugars Limited - India
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- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
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- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
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- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
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