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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- MS Steel International - UAE
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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