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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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- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
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- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
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- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
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- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
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- Indogreen Group - Indonesia
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- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- The University of Queensland
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
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