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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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Planning Commission, India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
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