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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, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
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