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