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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
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