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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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Parliament of New Zealand
- Vedanta Resources Plc - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
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