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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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Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
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- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
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- Australian Commodity Traders Exchange
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- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Xindia Steels Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
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- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
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- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
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- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
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- Mintek Dendrill Indonesia
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- The University of Queensland
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
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- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
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- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
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- Wilmar Investment Holdings
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- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
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- Lanco Infratech Ltd - India
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- Orica Australia Pty. Ltd.
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- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- White Energy Company Limited
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
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