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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
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Friday, 24 April 20
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Tuesday, 21 April 20
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We have seen China&r ...
Tuesday, 21 April 20
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Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
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- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Australian Coal Association
- The University of Queensland
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
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