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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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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
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Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
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Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
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Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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