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