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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, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
Friday, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
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- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
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- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
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- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
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