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