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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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Wednesday, 10 October 12
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Tuesday, 09 October 12
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The monthly coal referen ...
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CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
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- AsiaOL BioFuels Corp., Philippines
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- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
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- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
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- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
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- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
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- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Economic Council, Georgia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
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- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
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- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- SMG Consultants - Indonesia
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