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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
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Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
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Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
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- Anglo American - United Kingdom
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- Eastern Energy - Thailand
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
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- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
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- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- The University of Queensland
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
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