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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, 13 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMP 30.61 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 30.61 per cent week on week to 2.95 million mt for ...
Monday, 12 August 13
GBCE SUCCESSFUL IN UPGRADING LOW RANK INDONESIAN COAL ON INDUSTRIAL SCALE
COALspot.com : GB Clean Energy Ltd. (GBCE) has annoused that, the company has successfully upgraded 2,426 tonnes of low rank 4,018 kcal NAR Ind ...
Monday, 12 August 13
INDIA - SAFE SHIPMENT OF IRON ORE FINES FROM INDIAN PORTS - WEST OF ENGLAND P&I CLUB
As Members may be aware, in 2009 two ships, the ‘Asian Forest’ and the ‘Black Rose’, capsized and sank following the liquefa ...
Sunday, 11 August 13
INDONESIAN COAL SWAPS : FLAT ON DAY
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery flat on day due to holidays in Indonesia, Malaysia & ...
Sunday, 11 August 13
SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA CONTINUED TO BE SOFT - VISTAAR
COALspot.com : The freight market was soft this week with all indices down , the reason could be long weekend holidays in Indonesia, Singapore and M ...
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- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- White Energy Company Limited
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Planning Commission, India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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