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