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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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Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
Tuesday, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
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- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- The University of Queensland
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
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