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