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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 03 February 14
SUB-BIT INDONESIA COAL SWAP GAINED WEEK ON WEEK
COALspot.com – Swaps prices gained for thermal coal loading from Indonesia, the world’s largest exporter of the fuel, according SGX.
...
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
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- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- The University of Queensland
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
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