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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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Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
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- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- White Energy Company Limited
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- Madhucon Powers Ltd - India
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- IEA Clean Coal Centre - UK
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- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Planning Commission, India
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- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
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- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
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- SMC Global Power, Philippines
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- Indian Oil Corporation Limited
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- Petrochimia International Co. Ltd.- Taiwan
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- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
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- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
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- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
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- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
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- Merrill Lynch Commodities Europe
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- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Australian Coal Association
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- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
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- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
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- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
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