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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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Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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