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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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Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
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- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- White Energy Company Limited
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
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