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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
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