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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
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