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