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