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