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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- The University of Queensland
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
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