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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
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Tuesday, 06 December 22
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Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
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COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
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