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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
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