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