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