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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Australian Coal Association
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
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