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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- The University of Queensland
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
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