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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
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
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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- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- The University of Queensland
- Planning Commission, India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
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