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