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