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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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Friday, 04 October 13
US COAL PRODUCTION UP 2.1% WEEK ON WEEK - EIA
COALspot.com – United States the world’s second largest coal producer produced approximately 19.70 million short tons (mmst) of coal in ...
Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
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- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
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