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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, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
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