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