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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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- Chamber of Mines of South Africa
- PTC India Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
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