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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
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