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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- OPG Power Generation Pvt Ltd - India
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- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
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