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