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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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Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to r ...
Tuesday, 15 December 15
THE GOVERNMENT DECLARED THERMAL COAL BENCHMARK PRICE CRASHING ONCE AGAIN
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price down to below 2009 level. HBA has slumped by 1.69% mo ...
Tuesday, 15 December 15
API 5 FOB NEWCASTLE COAL SWAP FIRM W-W; WEAK M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $.13 per ton (0.35%) month over month to US$ 37.07 per ton. The swap w ...
Monday, 14 December 15
5000 GAR CS (I) COAL INDEX DECLINE US$ 0.04 PER TON W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.04 per ton (-0.10 %) week over week.
According to the CS (i) coal (system generated ...
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- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
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