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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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Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- Marubeni Corporation - India
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- Ind-Barath Power Infra Limited - India
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- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
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- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
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- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
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- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
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