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