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