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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
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- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
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- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
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