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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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Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
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