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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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Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
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Saturday, 09 January 16
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Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
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Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
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The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
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- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Planning Commission, India
- PTC India Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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