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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
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- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
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