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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
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Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
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Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
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