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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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Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
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- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
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- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
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