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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
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Tuesday, 06 December 22
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Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
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COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
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