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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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Friday, 31 July 20
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Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
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- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- The University of Queensland
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
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