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