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