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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- The University of Queensland
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
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