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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Parliament of New Zealand
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