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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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Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
Wednesday, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
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- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
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