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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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Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
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SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
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Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Australian Coal Association
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
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