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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Australian Coal Association
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
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