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