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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Global Business Power Corporation, Philippines
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- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
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- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
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- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
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- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
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- Petrochimia International Co. Ltd.- Taiwan
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- Thiess Contractors Indonesia
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- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
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- Neyveli Lignite Corporation Ltd, - India
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- White Energy Company Limited
- The University of Queensland
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- Ministry of Transport, Egypt
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- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
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- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
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- Wood Mackenzie - Singapore
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- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
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- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
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- Carbofer General Trading SA - India
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- Independent Power Producers Association of India
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- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
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- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- India Bulls Power Limited - India
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- CNBM International Corporation - China
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- Indian Oil Corporation Limited
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- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
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- SMC Global Power, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
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- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
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- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
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- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
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- Intertek Mineral Services - Indonesia
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