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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- The University of Queensland
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
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