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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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Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- New Zealand Coal & Carbon
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- Central Electricity Authority - India
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- Bangladesh Power Developement Board
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- PowerSource Philippines DevCo
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- Electricity Authority, New Zealand
- Australian Coal Association
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
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- The State Trading Corporation of India Ltd
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- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
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- Romanian Commodities Exchange
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- Georgia Ports Authority, United States
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- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
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- Deloitte Consulting - India
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- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- White Energy Company Limited
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- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
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- Ministry of Finance - Indonesia
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- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
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- Parliament of New Zealand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Marubeni Corporation - India
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- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
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- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
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- Semirara Mining Corp, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
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- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
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- Aditya Birla Group - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
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- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Holcim Trading Pte Ltd - Singapore
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