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