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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, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- Tata Chemicals Ltd - India
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- Lanco Infratech Ltd - India
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- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
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- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
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- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
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- The State Trading Corporation of India Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
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- Riau Bara Harum - Indonesia
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- Electricity Authority, New Zealand
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- Africa Commodities Group - South Africa
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- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
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