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