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