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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Central Java Power - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
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