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