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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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Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
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