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