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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- The Treasury - Australian Government
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
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