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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
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