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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
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Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
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Wednesday, 30 November 22
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Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
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