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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, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
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