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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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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- PTC India Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Agrawal Coal Company - India
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