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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Indian Energy Exchange, India
- Australian Coal Association
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
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