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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
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Monday, 28 June 21
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Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
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Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
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