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