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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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Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
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COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
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MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
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