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