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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, 08 May 15
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Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
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Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
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