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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- The University of Queensland
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
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