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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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Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
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- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
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