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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, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Parliament of New Zealand
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Planning Commission, India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- PTC India Limited - India
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