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