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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
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Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
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