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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- PowerSource Philippines DevCo
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
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