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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
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- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- The University of Queensland
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- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- The Treasury - Australian Government
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- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
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- Electricity Authority, New Zealand
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- ICICI Bank Limited - India
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- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
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- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
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- Electricity Generating Authority of Thailand
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- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Power Finance Corporation Ltd., India
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- Thai Mozambique Logistica
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- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
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- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
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- Miang Besar Coal Terminal - Indonesia
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- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
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- Chettinad Cement Corporation Ltd - India
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- Planning Commission, India
- Bhushan Steel Limited - India
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- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
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- Economic Council, Georgia
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- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
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- MS Steel International - UAE
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- SMC Global Power, Philippines
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- Sojitz Corporation - Japan
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- Australian Commodity Traders Exchange
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