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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
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