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