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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
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- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
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- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
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