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