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