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