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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
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