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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, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
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- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Planning Commission, India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
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