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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
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- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
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