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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, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Ministry of Mines - Canada
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