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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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Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
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- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- White Energy Company Limited
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
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