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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
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