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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
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Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
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Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
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- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
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- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- TeaM Sual Corporation - Philippines
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- Vijayanagar Sugar Pvt Ltd - India
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- Ministry of Transport, Egypt
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- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Global Business Power Corporation, Philippines
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- Ministry of Finance - Indonesia
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- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Anglo American - United Kingdom
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- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
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- Ceylon Electricity Board - Sri Lanka
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- Global Coal Blending Company Limited - Australia
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- White Energy Company Limited
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
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- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
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- Xindia Steels Limited - India
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- Thiess Contractors Indonesia
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- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Coalindo Energy - Indonesia
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- Electricity Authority, New Zealand
- MS Steel International - UAE
- Wilmar Investment Holdings
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- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
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- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
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- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
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