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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 26 August 14
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Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- PTC India Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
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