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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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Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
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