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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, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
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- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
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