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