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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- The University of Queensland
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
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