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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Sree Jayajothi Cements Limited - India
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- Indian Oil Corporation Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
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- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
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- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
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- Ambuja Cements Ltd - India
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- International Coal Ventures Pvt Ltd - India
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- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
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- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
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- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
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- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
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- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
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- Dalmia Cement Bharat India
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- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
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- White Energy Company Limited
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- Attock Cement Pakistan Limited
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- Holcim Trading Pte Ltd - Singapore
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- Directorate Of Revenue Intelligence - India
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- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
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- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- The University of Queensland
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- PTC India Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
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- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
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- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
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