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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, 10 January 17
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Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
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Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
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- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
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- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
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