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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
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- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
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