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