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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, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
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- Ministry of Finance - Indonesia
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- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
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- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Energy Development Corp, Philippines
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- Dalmia Cement Bharat India
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- Romanian Commodities Exchange
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- Price Waterhouse Coopers - Russia
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- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
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- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
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- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
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- Samtan Co., Ltd - South Korea
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- New Zealand Coal & Carbon
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- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
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