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