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