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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, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
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