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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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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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- Binh Thuan Hamico - Vietnam
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- Eastern Coal Council - USA
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- Billiton Holdings Pty Ltd - Australia
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- Africa Commodities Group - South Africa
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- Chamber of Mines of South Africa
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- Aboitiz Power Corporation - Philippines
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- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
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- Commonwealth Bank - Australia
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- Wood Mackenzie - Singapore
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- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
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- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
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- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
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- Gujarat Electricity Regulatory Commission - India
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- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
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- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- VISA Power Limited - India
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- The Treasury - Australian Government
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- Salva Resources Pvt Ltd - India
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- Bharathi Cement Corporation - India
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- Australian Coal Association
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- Thai Mozambique Logistica
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- Indian Oil Corporation Limited
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- International Coal Ventures Pvt Ltd - India
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- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Parliament of New Zealand
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- Indian Energy Exchange, India
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- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
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- Independent Power Producers Association of India
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- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
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- Economic Council, Georgia
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- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
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- GVK Power & Infra Limited - India
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- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
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