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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
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Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
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Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
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Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Parry Sugars Refinery, India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
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