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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Makarim & Taira - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
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- Straits Asia Resources Limited - Singapore
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- Sarangani Energy Corporation, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Economic Council, Georgia
- Trasteel International SA, Italy
- White Energy Company Limited
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- Coal and Oil Company - UAE
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- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
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- Wilmar Investment Holdings
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- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
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- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
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- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
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