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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
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The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
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- The University of Queensland
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- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
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- Independent Power Producers Association of India
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- Planning Commission, India
- Trasteel International SA, Italy
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- Minerals Council of Australia
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- Mercator Lines Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
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- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
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- Posco Energy - South Korea
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- Leighton Contractors Pty Ltd - Australia
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- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
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- Manunggal Multi Energi - Indonesia
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- Malabar Cements Ltd - India
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- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
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