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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, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
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Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
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- Port Waratah Coal Services - Australia
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- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Minerals Council of Australia
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- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
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- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
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- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
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- Economic Council, Georgia
- Chamber of Mines of South Africa
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- Planning Commission, India
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- India Bulls Power Limited - India
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- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
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- Latin American Coal - Colombia
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- Neyveli Lignite Corporation Ltd, - India
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- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
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- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
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- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
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- Star Paper Mills Limited - India
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- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
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- Price Waterhouse Coopers - Russia
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- Georgia Ports Authority, United States
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- Tamil Nadu electricity Board
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- Antam Resourcindo - Indonesia
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- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
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- Siam City Cement PLC, Thailand
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- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
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- White Energy Company Limited
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- Ambuja Cements Ltd - India
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- Energy Link Ltd, New Zealand
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- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
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- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
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