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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, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Australian Coal Association
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
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