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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
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