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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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Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- PTC India Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
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