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