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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- PTC India Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- The University of Queensland
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
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