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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
Wednesday, 15 January 14
INDONESIAN MINING LAW AVERTS BOP PRESSURE, RISKS REMAIN, FITCH SAYS
The last-minute intervention at the weekend by Indonesia's politicians to avert a significant disruption of mining activity and exports, should lim ...
Wednesday, 15 January 14
Q3 AND Q4 INDONESIAN COAL SWAPS DECLINE MONTH ON MONTH
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 1.23 pmt month on month on Friday 10 January 2014. T ...
Wednesday, 15 January 14
PANAMAX: PACIFIC - REMAINED QUIET; ATLANTIC - CONTINUED THEIR RETREAT
COALspot.com: The holiday hangover seems well underway for the Dry Bulk market that saw more ground being lost this past week. The BDI has closed of ...
Tuesday, 14 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL 18.28 %
COALspot.com: In the week ended January 13, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.67 ...
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- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- The University of Queensland
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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