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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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Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
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Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
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Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
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- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
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