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