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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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Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
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- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
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