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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
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Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
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- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
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- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
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- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
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- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
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