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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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Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
Wednesday, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
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- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- The University of Queensland
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
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