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