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