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