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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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Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
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- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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- Samtan Co., Ltd - South Korea
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- Vedanta Resources Plc - India
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- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
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