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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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Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
Friday, 15 November 13
TAIWAN'S PLASTICS GROUP FORMOSA TO IMPORT 1.37 MILLION TONS OF COAL FOR Q1' 14
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for total 1.37 million mt of coal for 1Q’ 14 for its various plants in Taiwan, ...
Thursday, 14 November 13
KOMIPO TO BUY 270K MT OF SUB-BITUMINOUS COAL FOR Q2' 14
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International Open Bidding for 140,000 Metric Tons (MT) of sub-bituminous coal ...
Thursday, 14 November 13
PANAMAX : MARKET SHOULD BE AROUND USD 11500 FOR 1 YEAR - FEARNLEYS AS
Handy
The Atlantic market has picked up this week with prompt ships able USG for November dates coming off and chrts need to pay up in order to cov ...
Wednesday, 13 November 13
Y'14 SUB-BIT INDO COAL SWAP MOVING AT SNAIL-SPEED
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 2.95 percept month on month on Friday ...
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- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
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