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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Australian Coal Association
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
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