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