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