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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Parliament of New Zealand
- Planning Commission, India
- The University of Queensland
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
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