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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, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
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- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
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- Wilmar Investment Holdings
- Australian Coal Association
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
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- Standard Chartered Bank - UAE
- Economic Council, Georgia
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- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
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- Planning Commission, India
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- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
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- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
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- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
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- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
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