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