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