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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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Showing 2311 to 2315 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
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