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