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