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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, 10 January 17
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Monday, 09 January 17
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Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
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