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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, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
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