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