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