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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
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Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
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- Higher grid fees due to the ...
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- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
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