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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
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Wednesday, 31 August 22
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Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Australian Coal Association
- Videocon Industries ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Edison Trading Spa - Italy
- Central Electricity Authority - India
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