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