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