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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 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
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Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
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SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
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Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- McConnell Dowell - Australia
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- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Planning Commission, India
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- Petron Corporation, Philippines
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- Price Waterhouse Coopers - Russia
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- Heidelberg Cement - Germany
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- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
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- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
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- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
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- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
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- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
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- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
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- Leighton Contractors Pty Ltd - Australia
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- Indonesian Coal Mining Association
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- Parliament of New Zealand
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- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- The University of Queensland
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
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