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