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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, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- London Commodity Brokers - England
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