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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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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
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- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
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- Lanco Infratech Ltd - India
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- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
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- The University of Queensland
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
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