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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- The University of Queensland
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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