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