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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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Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
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- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
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