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