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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
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- Sojitz Corporation - Japan
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- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
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- Heidelberg Cement - Germany
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- Planning Commission, India
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- The University of Queensland
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- Coalindo Energy - Indonesia
- Deloitte Consulting - India
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- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- White Energy Company Limited
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- The Treasury - Australian Government
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- The State Trading Corporation of India Ltd
- Australian Coal Association
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- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
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- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
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- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
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- New Zealand Coal & Carbon
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- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
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- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
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- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
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- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
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- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
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- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
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- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
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