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