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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, 17 October 18
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Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- GN Power Mariveles Coal Plant, Philippines
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- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
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- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
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- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
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- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
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- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
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- Bulk Trading Sa - Switzerland
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- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
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- Africa Commodities Group - South Africa
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- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
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- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
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- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
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- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
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- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
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- Pendopo Energi Batubara - Indonesia
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- Bhoruka Overseas - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Independent Power Producers Association of India
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- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
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