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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, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Thursday, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
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- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
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- GN Power Mariveles Coal Plant, Philippines
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- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
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- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
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- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- PTC India Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
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