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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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- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
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