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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
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The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Commonwealth Bank - Australia
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- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
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- Indika Energy - Indonesia
- Wilmar Investment Holdings
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- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
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- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
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- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
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- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
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- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
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- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
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- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
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- Edison Trading Spa - Italy
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
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- Parliament of New Zealand
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- Jorong Barutama Greston.PT - Indonesia
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- Carbofer General Trading SA - India
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- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
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- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Central Electricity Authority - India
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- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
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