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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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Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
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