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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, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Planning Commission, India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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