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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, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
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