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