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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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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
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