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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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Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
Tuesday, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
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- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- The University of Queensland
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Australian Coal Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
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