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