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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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Planning Commission, India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Economic Council, Georgia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
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