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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
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