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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Interocean Group of Companies - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- White Energy Company Limited
- Planning Commission, India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Australian Coal Association
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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