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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, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
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