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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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- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
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- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
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- Georgia Ports Authority, United States
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- Edison Trading Spa - Italy
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
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- Semirara Mining and Power Corporation, Philippines
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- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
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- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Meralco Power Generation, Philippines
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- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
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- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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- Tata Chemicals Ltd - India
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- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
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- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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