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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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Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- The University of Queensland
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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