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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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Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
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Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
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INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
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- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
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