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