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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, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
Wednesday, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
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- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
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- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
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- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
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- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
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- Standard Chartered Bank - UAE
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- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
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- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
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- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
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- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
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- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
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- Singapore Mercantile Exchange
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- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- The University of Queensland
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
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