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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Planning Commission, India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
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