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