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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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Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
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- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
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- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- McConnell Dowell - Australia
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