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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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- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
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