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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
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Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
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Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
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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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- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
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- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- PTC India Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
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