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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
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