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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
Thursday, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
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Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
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- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- White Energy Company Limited
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Australian Coal Association
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
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