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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, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
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