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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, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
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