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