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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, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- PTC India Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
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