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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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- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
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