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