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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
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- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Planning Commission, India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
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- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
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- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
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