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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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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
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- Posco Energy - South Korea
- White Energy Company Limited
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
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