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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, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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