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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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Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
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