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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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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
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- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
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