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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
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Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
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