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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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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
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