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