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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, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
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- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
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