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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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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
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Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PTC India Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Planning Commission, India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
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