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