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