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