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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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- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Economic Council, Georgia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
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