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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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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
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