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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 06 August 14
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Monday, 04 August 14
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Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
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- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
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- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
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