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