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