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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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- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
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- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
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- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
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- GMR Energy Limited - India
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- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Australian Coal Association
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- Planning Commission, India
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- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
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- Georgia Ports Authority, United States
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- Mercator Lines Limited - India
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- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
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- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
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- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
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- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
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- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
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- SMC Global Power, Philippines
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- Wilmar Investment Holdings
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- Heidelberg Cement - Germany
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
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- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
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- Sarangani Energy Corporation, Philippines
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- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
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- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
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- Anglo American - United Kingdom
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- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
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- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
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- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
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