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