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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Tuesday, 20 October 15
API 5 FOB NEWCASTLE COAL SWAP CLOSED NEGATIVE
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $1.23 per ton (2.86%) month over month to US$ 41.80 per ton. The ...
Monday, 19 October 15
RUSSIA MAJOR COAL MINER KRU CUTS 4.5 MLN T/YR "UNPROFITABLE" EURO SALES - JACQUELINE HOLMES
COALspot.com: Kuzbassrazrezugol (KRU), one of Russia's largest producers of high-quality coal, plans to cut its coal exports in 2016 by about 4 ...
Monday, 19 October 15
CFR SOUTH CHINA COAL SWAP CLOSED AT $48.68 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 55 (1.12 %) per ton month over month.
A commodity ...
Monday, 19 October 15
KOMIPO SEEKS 1.28 MILLION T/Y COAL FOR DEC 2015 - Q2 2016
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,280,000 Metric Tons (MT) of minimum 4,600 kc ...
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- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
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