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