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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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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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