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