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