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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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Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- The University of Queensland
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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