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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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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
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Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
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Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
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