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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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Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
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THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
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- MS Steel International - UAE
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- Singapore Mercantile Exchange
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- Lanco Infratech Ltd - India
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- Commonwealth Bank - Australia
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- Electricity Generating Authority of Thailand
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- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
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- Australian Coal Association
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- Price Waterhouse Coopers - Russia
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- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
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- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
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- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
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- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
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- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
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