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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
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Wednesday, 02 November 22
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Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
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