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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
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