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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
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