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