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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, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
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- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
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