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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
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Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
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SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
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Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
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