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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
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