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