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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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