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