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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, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- White Energy Company Limited
- Minerals Council of Australia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
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