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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- PTC India Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
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