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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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Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Makarim & Taira - Indonesia
- Central Electricity Authority - India
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- The University of Queensland
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- Australian Coal Association
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- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
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- PTC India Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
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- Orica Australia Pty. Ltd.
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- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
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- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
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- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
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- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
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- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
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- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
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- Eastern Coal Council - USA
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- Cement Manufacturers Association - India
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- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
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