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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, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
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The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Aditya Birla Group - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- VISA Power Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
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