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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
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- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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