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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, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
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