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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- White Energy Company Limited
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- The University of Queensland
- Economic Council, Georgia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
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