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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
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