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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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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
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Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
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Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
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