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