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