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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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Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- The University of Queensland
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
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