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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
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