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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- PTC India Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- The University of Queensland
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
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