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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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Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Australian Coal Association
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
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