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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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Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
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