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