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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, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
Friday, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
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- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
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- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
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- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
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- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
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