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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
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