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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, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
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- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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