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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
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Friday, 24 April 15
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Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
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Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
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- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
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