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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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Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
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- Parliament of New Zealand
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Planning Commission, India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
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