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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, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
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- PowerSource Philippines DevCo
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- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
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- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
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- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
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- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
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- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
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- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
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- Toyota Tsusho Corporation, Japan
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- India Bulls Power Limited - India
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- Commonwealth Bank - Australia
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- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
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- Mjunction Services Limited - India
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- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Indonesian Coal Mining Association
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- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
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- South Luzon Thermal Energy Corporation
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- Australian Commodity Traders Exchange
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- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- White Energy Company Limited
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- Alfred C Toepfer International GmbH - Germany
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- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Meralco Power Generation, Philippines
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- Electricity Generating Authority of Thailand
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- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
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- Gujarat Electricity Regulatory Commission - India
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- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
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- Bangladesh Power Developement Board
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- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
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- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
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- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
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- New Zealand Coal & Carbon
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- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
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- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
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- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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- Bharathi Cement Corporation - India
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