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