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