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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
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
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
- No security of supply without hard coal
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- Higher grid fees due to the ...
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- Kideco Jaya Agung - Indonesia
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- Parry Sugars Refinery, India
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- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
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- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
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- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
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- Georgia Ports Authority, United States
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- Eastern Energy - Thailand
- The Treasury - Australian Government
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- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Wilmar Investment Holdings
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- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kapuas Tunggal Persada - Indonesia
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- Tamil Nadu electricity Board
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- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
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- Gujarat Mineral Development Corp Ltd - India
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