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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
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