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