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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
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