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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, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
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