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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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- Indian Oil Corporation Limited
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- Planning Commission, India
- Minerals Council of Australia
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- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
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- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
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- Metalloyd Limited - United Kingdom
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- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
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- Eastern Energy - Thailand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
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- Wood Mackenzie - Singapore
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- GMR Energy Limited - India
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- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
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- Tata Chemicals Ltd - India
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- The Treasury - Australian Government
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- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
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- Economic Council, Georgia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
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- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
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- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
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- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
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- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
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- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
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- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
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