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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, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
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Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
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Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
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