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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
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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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- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Central Electricity Authority - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
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