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