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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, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
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