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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
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- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
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- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
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- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
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