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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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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
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Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
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Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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