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