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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, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Chamber of Mines of South Africa
- The University of Queensland
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
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