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