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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, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
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- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
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- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
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- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
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- Indonesian Coal Mining Association
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- Renaissance Capital - South Africa
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- Planning Commission, India
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- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
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- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
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- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
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- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Romanian Commodities Exchange
- Economic Council, Georgia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
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- Thai Mozambique Logistica
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- Vedanta Resources Plc - India
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- Petron Corporation, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
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- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
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- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
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- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
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- New Zealand Coal & Carbon
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- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
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