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