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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, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
Thursday, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
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- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
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