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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, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
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