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