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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- CNBM International Corporation - China
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
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