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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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Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
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