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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, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- Ministry of Mines - Canada
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- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- The University of Queensland
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- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
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- Electricity Authority, New Zealand
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- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- ICICI Bank Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
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- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
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- Africa Commodities Group - South Africa
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- Rashtriya Ispat Nigam Limited - India
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- Attock Cement Pakistan Limited
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- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Bhatia International Limited - India
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- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
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- Thiess Contractors Indonesia
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- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
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- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
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- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
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- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Australian Coal Association
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
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