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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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Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
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