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