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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, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- Cement Manufacturers Association - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- The University of Queensland
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
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