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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, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
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- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
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