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