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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
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Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
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Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
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- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
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- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
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- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
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- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
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- Aboitiz Power Corporation - Philippines
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- Gujarat Mineral Development Corp Ltd - India
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- Coalindo Energy - Indonesia
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- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
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- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
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- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
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- Wilmar Investment Holdings
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- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
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- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
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- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
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- VISA Power Limited - India
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- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
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