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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, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
Friday, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
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- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
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