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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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Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
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