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