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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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- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
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