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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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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
Friday, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
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- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
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