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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
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- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- The University of Queensland
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
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