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