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