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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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Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
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- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
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