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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- The University of Queensland
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
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