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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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
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