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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
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