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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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Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 04 September 14
PUNJAB STATE POWER CORPORATION LIMITED OF INDIA HAS DECIDED TO BUY IMPORTED COAL - HINDUSTAN TIMES
COALspot.com: The Punjab State Power Corporation Limited (PSPCL) has decided to buy imported coal to run its thermal plants, as reported by Hindust ...
Thursday, 04 September 14
INDONESIAN COAL MINERS MAY GET MORE TIME ON ROYALTIES - FITCH RATINGS
COALspot.com: Fitch Ratings says that coal miners in Indonesia are likely to get more time to repay the government the royalties that were set off ...
Thursday, 04 September 14
INDONESIAN COAL SWAPS SLIDE THIS PAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.90 (-1.68%) day on day and US$ 1.80 (-3.31%) per mt week on week. The ...
Thursday, 04 September 14
CAPESIZE : SENTIMENT REMAINS POSITIVE FOR Q3/Q4 - FEARNRESEARCH
Handy
The Atlantic market has experienced more activity this week. Rates for TA´s are up about 8% w-o-w, much lead by an increasing number ...
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- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
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