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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
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