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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
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- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
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- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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