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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, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
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- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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