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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
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Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
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