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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, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
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- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
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- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
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- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
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