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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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Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
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- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Anglo American - United Kingdom
- Aditya Birla Group - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
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