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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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Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
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Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- PTC India Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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