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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 05 August 13
INDO GOVERNMENT'S DECLARED HBA IN AUGUST '13 FALL TO LOWEST LEVEL SINCE JANUARY '10
COALspot. com - HBA fell to US$ 76.70 this month, the lowest since January 2010. Indonesian Coal Price Reference fell 6.11% and hitting a 2013 ...
Sunday, 04 August 13
COAL SWAP MARKET HAS LOST DIRECTION; STRUGGLING TO CATCH UP
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average October 2013 delivery slightly down on day, week and month on Friday, 2 A ...
Sunday, 04 August 13
INDONESIA TO INDIA SUPRAMAX FREIGHT SOFT DUE TO HOLIDAYS IN INDONESIA - VISTAAR
COALspot.com : The freight market was fairly steady this week with the BDI recovering towards north since second half of the week with the support o ...
Friday, 02 August 13
DRY BULK MARKET STABILIZES ON RENEWED MARKET ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its positive footing this week, although it's still a far cry to deem the market situation as a growing one, especiall ...
Friday, 02 August 13
ASIA ACCOUNTS FOR 27.95 PERCENT OF US COAL EXPORTS IN Q1, 2013
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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- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
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