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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
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