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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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- Vedanta Resources Plc - India
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- Ind-Barath Power Infra Limited - India
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- Global Business Power Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
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- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
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- The University of Queensland
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- Orica Mining Services - Indonesia
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- MS Steel International - UAE
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- IHS Mccloskey Coal Group - USA
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- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
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- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
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- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
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- Orica Australia Pty. Ltd.
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- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
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- Tata Chemicals Ltd - India
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- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
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- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
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- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
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- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Australian Coal Association
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