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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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
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