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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
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
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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- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- VISA Power Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Planning Commission, India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
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