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