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