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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, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
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EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
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- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Sical Logistics Limited - India
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