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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Romanian Commodities Exchange
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
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