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