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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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Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
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- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
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- Indian Oil Corporation Limited
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- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
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- Indian Energy Exchange, India
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- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
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- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
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- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
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- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
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- Medco Energi Mining Internasional
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
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