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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- The University of Queensland
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
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