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