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