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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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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- The University of Queensland
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
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