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