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