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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
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