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