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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
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- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Planning Commission, India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
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