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