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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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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
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Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
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Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
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Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Parliament of New Zealand
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- The University of Queensland
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- GMR Energy Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
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