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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, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- The University of Queensland
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
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