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