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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, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
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There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
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