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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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- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
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