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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
Tuesday, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
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- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Planning Commission, India
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- TeaM Sual Corporation - Philippines
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- Mintek Dendrill Indonesia
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- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Parliament of New Zealand
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- Bahari Cakrawala Sebuku - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
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- Metalloyd Limited - United Kingdom
- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
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- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
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- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
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- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
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- Wilmar Investment Holdings
- Indonesian Coal Mining Association
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- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
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