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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
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Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
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Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
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CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
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- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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