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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
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
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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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- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
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