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