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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, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
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