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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
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Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
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- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
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- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
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- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
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