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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, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
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