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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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Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
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- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
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- Electricity Generating Authority of Thailand
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- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
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- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
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